EUR/USD Weekly
The pair is holding inside the 1.2534-1.4821 range and has completed a upside correction for the 1.3564-1.2788 descendent wave while holding below both its moving averges.
Further upside is expected and on the Daily timeframe we have a uptrend channel.
Hold buy positions with a target of 1.3545 and a stop loss at 1.2439.
This setup provides a risk/reward of 395/720.
EUR/USD Daily
The pair is holding inside its uptrend channel where it was recently rejected at its support and is located below both its MAs.
A rejection has also taken place above the channel’s ascendent support.
Hold long positions with a target of 1.3091 and a secondary target of 1.3342 while the channel holds.
Stop loss remains at 1.2702.
This setup provides a total risk/reward of 131/515.
Goldenschild Asset Management
http://www.goldenschild.com
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